Compensation Discussion
Compensation will obviously be one of the many factors you will consider when evaluating new career opportunities. It is very important, however, that you not prematurely initiate conversations concerning compensation. It is generally a better strategy to delay compensation discussions until you and the client/employer have a thorough understanding of what you bring to the table and what they have to offer in terms of your career development.
Please review and consider the following regarding compensation discussions:
- It is generally best to postpone the discussion of money, salary and
related compensation topics for as long as possible to allow the
client/employer to review and evaluate all of the benefits that you
would bring to the table. Likewise, it is important for you to
understand and consider all of the other components of the opportunity
presented by the client/employer, including:
- Career growth opportunity.
- The quality of the people you would be working with and for.
- Professional development and training opportunities.
- Long-term potential at the company or firm.
- Depth and value of experience to be gained.
- And, other "intangible" benefits. - If asked directly about your compensation requirements early in the interview process, it is generally recommended that you simply iterate your current compensation and say that you are sure that the client/employer will make you a fair offer after evaluating all that you bring to the table.
Counteroffers... Understand the Implications
Counteroffers are one of several means of inducement from a current employer aimed at convincing you to stay after you have committed to and announced your intent to leave.
Chances are that you will encounter a situation at some point in your career where you are presented with a counteroffer as an inducement to stay. These situations are unfortunately becoming more commonplace in the employment market.
It is important for you to understand the implications of these offers and how you can effectively deal with these situations should they present themselves to you.
Important implications to consider are as follows:
- Regardless of what you may be told by an employer, anyone who announces his/her intention to leave and/or resigns, and is then retained by a counteroffer, is always considered a security risk. Employer loyalty will always be in question from that point forward.
- Any situation in which an employee is "forced" to get an outside offer before being offered a raise, promotion or better working conditions is highly suspect.
- Counteroffers are many times nothing more than a stall device to give your employer time to replace you or make the transition on their own timetable.
- Your reason for wanting to leave an employer in the first place does not really change as a result of a counteroffer - at best, the situation may become a bit more tolerable as a result of the raise or other promises made.
- In many cases, those who accept counteroffers find themselves in the job market again in the short-run, usually three to six months down the road.
- Finally, world class employers never make counteroffers.
Effectively dealing with counteroffer situations:
- It is very important to be alert and look for cues as to possible counteroffer situations. Remain confident in and be emphatic about your decision. Many times the confidence you display in your decision will preempt any thought on your employer's part in presenting a counteroffer.
- Stand apart from your emotions. Listen to your head and attune yourself to your intuition. Objective analysis will keep you focused on standing firm on your decision.